Name the company in which the paid-up capital held by the government is not less than 51 percent. Explain its features.
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Answers
Answer:
GLC ( Government Linked Companies)
Explanation:
● It refers to the companies that can be public or private and the government have stake in it through a holding company.
● A company is GLC if the government have 50 percent or more than 50 percent controlling stake in it.
● Such companies are incorporated under companies act 1956 and function as separate legal entity.
● They are audited by various agencies appointed by the government, mostly by CAG ( Comptroller and auditor general of India).
● A lot of government interference is faced by these companies.
Learn more:
Major difference between company act 1956 and company act 2013
https://brainly.in/question/8689281
Hello !
There are approximately 300 companies comes under this category in India.
Name of Some:
Air India, Hindustan Petroleum, IISCO Steel Plant, GAIL
Explanation:
Features:
- These are considered separate legal entities from Government and run by a board of directors.
- Their employees are not government employees their working environment is similar to private companies.
- Annual Profit and Loss statement is present to the parliament annually.
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